Northcape Capital Pty Ltd trimmed its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,501,345 shares of the bank’s stock after selling 19,795 shares during the quarter. Itaú Unibanco accounts for 4.1% of Northcape Capital Pty Ltd’s portfolio, making the stock its 5th largest position. Northcape Capital Pty Ltd owned about 0.08% of Itaú Unibanco worth $35,556,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of ITUB. QCM Cayman Ltd. increased its holdings in shares of Itaú Unibanco by 212.9% during the 3rd quarter. QCM Cayman Ltd. now owns 65,709 shares of the bank’s stock worth $262,000 after acquiring an additional 44,709 shares during the last quarter. Platinum Investment Management Ltd. bought a new stake in shares of Itaú Unibanco during the 3rd quarter worth $34,000. Barings LLC raised its position in Itaú Unibanco by 45.2% in the third quarter. Barings LLC now owns 4,239,715 shares of the bank’s stock valued at $16,874,000 after purchasing an additional 1,319,564 shares during the last quarter. Scotia Capital Inc. bought a new position in Itaú Unibanco in the third quarter valued at about $44,000. Finally, Turim 21 Investimentos Ltda. bought a new position in Itaú Unibanco in the third quarter valued at about $1,910,000. 3.43% of the stock is owned by institutional investors and hedge funds.
Separately, ValuEngine cut Itaú Unibanco from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.83.
Shares of NYSE:ITUB opened at $5.40 on Monday. Itaú Unibanco Holding S.A. has a 52-week low of $3.48 and a 52-week high of $9.40. The firm has a market capitalization of $53.59 billion, a P/E ratio of 11.74 and a beta of 0.74. The stock has a 50 day moving average price of $4.69 and a 200-day moving average price of $4.65. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.67 and a current ratio of 1.67.
Itaú Unibanco (NYSE:ITUB) last announced its earnings results on Tuesday, November 3rd. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $5.46 billion. Itaú Unibanco had a return on equity of 13.37% and a net margin of 10.91%. On average, equities analysts forecast that Itaú Unibanco Holding S.A. will post 0.35 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Thursday, January 14th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $0.0028 per share. This represents a $0.03 annualized dividend and a dividend yield of 0.62%. This is a boost from Itaú Unibanco’s previous monthly dividend of $0.00. The ex-dividend date is Tuesday, December 1st. Itaú Unibanco’s dividend payout ratio is presently 4.23%.
About Itaú Unibanco
ItaÃº Unibanco Holding SA provides a range of financial products and services in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers various deposit products, as well as loans and credit cards; investment banking services; real estate lending services; financing and investment services; and leasing and foreign exchange services.
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